Gavibc digital trading platform: block chain technology can save time and cost needed for the commercial credit form
"Credit formation of the traditional model has obvious limitations, in the past in the supply chain, small micro enterprise financing difficulties, financing is expensive, block chain established a 'technical endorsement' trust mechanism, saving time and cost needed for the credit form,"

19, by the people's government of fuzhou city, such as "finance and economics", a think-tank, etc for 2019 China supply chain on the peak BBS, bank of China, former President, China association of Internet financial block chain team leader Mr Li said of block chain technology application in commercial credit made the above statement,

Mr Li pointed out that the credit form of traditional pattern has obvious limitations, due to the trust need to accumulate, thus the establishment of the credit need longer cycle, the high cost of credit formation; Due to the central node must be trusted, small range of economic activities are difficult to be social acceptance of credit records, credit and the range of small, in the past in the supply chain, small micro enterprise financing difficulties, financing is expensive, and some of the big data technologies used in electric business platform, credit found in Internet electric business platform, create credit, the small micro enterprise and masses of credit value, more and more technology platform, and then follow up financial institutions,

"Block chain established a 'technical endorsement' trust mechanism, through mathematical method to solve the problem of trust, to express rules algorithm program, as long as the trust program can build mutual trust and common algorithm is able to trust unknown or trust weak environment forming a bond of trust, save time and cost needed for the credit form," Mr Li said the block chain technology is used to establish credible data registration and test platform, can accommodate more counterparties, the supply chain financial scenario, digital trust can add hold commercial credit,

There is no doubt that the new technology will also bring certain influence to pratt &whitney financial,

"Block chain to be able to trust in relatively weak environment through the way of technology, to some extent, solve the problem of the current commercial credit mechanism construction cost is too high, can promote the development of pratt &whitney financial, at the same time, the block chain if the league chain technology architecture, to establish a multilateral participation system, and establish effective network, it can improve the efficiency of financial transactions," Mr Li said recently,

Mr Li, however, is the truth, block chain technology for large-scale commercial applications, disruptive competition advantages to improve the speed and quality of data processing, both to meet the demand of high frequency trading, also to achieve high reliability, high safety standard,